US President-elect Donald Trump on Monday denied a Washington Post report claiming his aides were exploring tariff plans that would apply to all countries but be limited to specific critical imports, including critical minerals and the energy production sector.
As a candidate, Trump called for “universal” tariffs on all imported goods, proposing rates as high as 10% to 20%, along with a 60% tariff on Chinese products.
According to the Washington Post, current discussions instead focus on imposing tariffs only on certain sectors deemed critical to national or economic security.
These include the defense industrial supply chain (through tariffs on steel, iron, aluminum, and copper); critical medical supplies (such as syringes, vials, and pharmaceutical materials); and energy production (including batteries, rare earth minerals, and solar panels), according to two sources cited by the publication.
The aides reportedly stated that the plans remain in flux and have not been finalized.
“The story in the Washington Post, quoting so-called anonymous sources — which don’t exist — incorrectly states that my tariff policy will be pared back.
That is wrong.
The Washington Post knows it’s wrong.
It’s just another example of Fake News,” Trump wrote in a post on Truth Social.
Last month, Reuters reported that a Trump transition team document had recommended imposing tariffs on all electric battery materials globally to boost US production, with the intention of negotiating individual exemptions with allies.
The document called for tariffs on imports related to the EV supply chain, including batteries, critical minerals, and charging components.
mining.com
Rare earth metals demand is projected to increase at 10.4% compound annual growth rate (CAGR) from 2024-2033.
There is currently only one producing rare earths mine in the US: MP Materials’ Mountain Pass in California.
The Department of Defense has implemented a strategy to develop domestic supply chains to ensure continued access to the rare earth materials needed to manufacture the permanent magnets used in US military weapons systems, as domestic shortages of rare earth elements and could derail the energy transition, stunt economic growth, and potentially undermine national security.
mining.com
Food for thought moving forward in 2025
GLTAH's
Cheers
Frank
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